Vestal Point Capital LP Sells 106,354 Shares of Celldex Therapeutics, Inc. $CLDX

Key Points

• Vestal Point Capital LP reduced its stake in Celldex Therapeutics by 34.9% in the first quarter, selling 106,354 shares and now owning 198,646 shares worth approximately $3.6 million.
• Several large investors have also altered their positions in Celldex, including Trexquant Investment LP, which purchased a new stake of about $1.42 million.
• A variety of analysts have lowered their price targets for Celldex Therapeutics, resulting in mixed ratings; however, the consensus remains a "Moderate Buy" with an average price target of $46.67.

Vestal Point Capital LP lessened its position in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 34.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,646 shares of the biopharmaceutical company's stock after selling 106,354 shares during the quarter. Vestal Point Capital LP owned 0.30% of Celldex Therapeutics worth $3,605,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new stake in Celldex Therapeutics during the fourth quarter valued at about $233,000. Aquatic Capital Management LLC purchased a new stake in Celldex Therapeutics during the 4th quarter valued at about $121,000. Tudor Investment Corp ET AL bought a new position in Celldex Therapeutics during the 4th quarter worth approximately $822,000. Northern Trust Corp increased its stake in Celldex Therapeutics by 6.2% in the 4th quarter. Northern Trust Corp now owns 597,605 shares of the biopharmaceutical company's stock worth $15,101,000 after purchasing an additional 34,885 shares during the period. Finally, Algert Global LLC increased its stake in Celldex Therapeutics by 89.8% in the 4th quarter. Algert Global LLC now owns 104,337 shares of the biopharmaceutical company's stock worth $2,637,000 after purchasing an additional 49,354 shares during the period.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLDX. Canaccord Genuity Group reduced their price target on Celldex Therapeutics from $64.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Citigroup reduced their target price on Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. HC Wainwright dropped their price target on Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Morgan Stanley cut their price target on shares of Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Finally, UBS Group decreased their price objective on shares of Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 9th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.67.

Celldex Therapeutics Price Performance

NASDAQ CLDX traded up $0.09 during trading hours on Friday, reaching $22.87. 1,140,628 shares of the company's stock traded hands, compared to its average volume of 1,571,091. Celldex Therapeutics, Inc. has a 52-week low of $14.40 and a 52-week high of $47.00. The firm has a 50-day simple moving average of $22.46 and a 200 day simple moving average of $20.65. The firm has a market cap of $1.52 billion, a PE ratio of -7.60 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.85) EPS for the quarter, topping analysts' consensus estimates of ($0.86) by $0.01. The firm had revenue of $0.73 million for the quarter, compared to analysts' expectations of $1.13 million. Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%. Sell-side analysts forecast that Celldex Therapeutics, Inc. will post -2.48 EPS for the current fiscal year.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.